United States: Consumer confidence rises further to highest level in almost five years
November 27, 2012
In November, the Conference Board consumer confidence index rose to 73.7 points from the revised 73.1 points recorded in October (previously reported: 72.2 points), reaching its highest level since February 2008. The figure overshot market expectations, which had anticipated the index reaching 72.8 points. As a result of the monthly rise, consumer confidence now stands 18.5 points above the level recorded in the same month a year ago. According to the Conference Board, "this month's moderate improvement was the result of an uptick in expectations, while consumers' assessment of present-day conditions continues to hold steady", while adding that "over the past few months, consumers have grown increasingly more upbeat about the current and expected state of the job market, and this turnaround in sentiment is helping to boost confidence".